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Snap buys AR startup

Snap Inc. acquired Israeli startup Cimagine for $30 million to $40 million, TechCrunch.com reported Dec. 25, citing Israeli outlet Calcalist News.

Cimagine's augmented reality platform allows users to instantly visualize products they want to buy in their intended location. The deal could reportedly help Snap use the startup's technology to augment campaigns for Snapchat.